Saudi Hollandi seeks $400m sukuk

Saudi Hollandi bank plans to seek shareholder approval to sell 1.5 billion riyals ($400m) of Islamic bonds, reported Reuters. The bank will hold a shareholder meeting to discuss the bond sale proposal on Nov. 11. Hollandi is the second Saudi firm this week to announce plans for a sukuk issue after property developer Dar Al-Arkan, Saudi Arabia's largest property developer by market value.